Description

As businesses and organizations become more volatile, uncertain, complex, and ambiguous, the ability to define a well thought yet agile strategic plan is a must for any organization to achieve its vision, mission, and objectives. Strategic Management is a two-day course gives the participant a comprehensive look at strategic management as he/she goes through the various tasks involved in developing and maintaining a strategic management plan. This course is designed as a combination of lectures, activities, games, and discussions using the CASE method of learning – a teaching method used in the top business schools in the world.

At the end of this course, the participant should be able to:

Describe what is strategic management including its nature and benefits

Identify various drivers and motivators of strategic management

Identify similarities and differences of the various strategic management models

Perform environmental scanning using PESTEL, SWOT, and the VUCA framework

Describe the elements and importance of the Vision and Mission statement

Describe what comprises good strategic objectives

Describe various corporate level and competitive strategies

Describe how to implement and execute strategies

Describe how to monitor and evaluate the performance of strategic management initiatives

Course Outline for Strategic Management

The Evolution

The nature

Benefits

Strategic Types

Drivers and Motivators

The Dynamic Nature of the Market and the Business

The Triggering Events

Theory of the Firm

Technology and Innovation

The Product Life Cycle

Experience Curve

Economies of Scale

Best Operating Level

Strategic Management Models

Wright, Kroll, and Parnell Model

Thomson and Strickland Model

R. David Model

Wheelen and Hunger Model

Rayport and Jaworksi Model

Pitts-Lei Model

The Hybrid Model (Orcullo Model)

Strategic Plan – The output of strategic management models

Short, Medium, and Long-Term Plans

Task 1 – Environmental Scanning

PESTEL Analysis

SWOT Analysis

Porter’s Five Forces Analysis

VUCA Analysis

Task 2 – The Vision and Mission Statement

The Need for a Vision-Mission Statement

Vision vs. Mission Statement

Elements of a Mission Statement

Elements of a Vision Statement

Examples of Vision-Mission Statements

Task 3 – Setting Strategic Objectives

The Need for Strategic Objectives

The Nature of setting Strategic Objectives

Strategic Intent vs. Strategic Thrust

Characteristics of Strategic Objectives

What is considered a good strategic objective

Task 4 – Crafting Strategies

Factors to consider in crafting strategies

Corporate Level Strategies

Competitive Strategies

Task 5 – Implementing and Executing Strategies

The Challenge of Implementing and Executing Strategies

Goals of Strategy Execution

Components of Strategy Execution

Determinants to successful Implementation of strategy

Implementing and Executing strategy

Who should be involved in implementing strategy

Ways to lead the implementation and execution process

Role of Policies in Aid of Strategy Execution

Task 6 – Monitoring, Evaluating, and taking corrective actions

The Need to Monitor

Use of Charts and Milestone Indicators

Considerations in Reporting Monitoring Activities

Strategy Audit

Balanced Scorecard as an Evaluation Tool

Evaluating Top Management

Some Key Indicators

Considerations for Financial Ratios

Liquidity Ratios

Profitability Ratios

Activity Ratios

Leverage Ratios

Other Ratios

Taking corrective actions

Who should attend

Company Executives

C Level professionals

Senior Management engaged in Strategic Management

Managers who would like to have a fundamental knowledge on Strategic Management